Earlier this morning we reported that Taiwan's United Daily News today posted a report claiming that Luxshare had lost out on iPhone 14 Pro models for 2022. Luxshare only had 3% of Apple's iPhone 13 Pro model production. A new Reuters report this morning may shed a little more light on a new Luxshare production plan.

Reuters is reporting today that Luxshare Precision has announced that it aims to raise up to 13.5 billion yuan (US$2.13 billion) to fund six projects, including building a production line for wearable devices.

Luxshare said in their filing with the Shenzhen stock exchange that the move is a push to "improve the company’s production capacity in downstream applications such as consumer electronics and smart vehicles."

The six projects included the construction of production lines of smart wearable devices, smart mobile terminal precision components, and high-voltage connection systems for new energy vehicles, according to its filing. For more, read the full Reuters report here.

The category of "smart wearable devices" was not expanded upon in their filing. This broad category could cover AirPods/AirPods Pro, Apple Watch expansion or entry into new Apple smart wearable devices such a Mixed Reality headset, an Apple smart ring (01 & 02) or  more.